As the world grapples with record-high global heat and extreme weather events, the UN climate chief, Simon Stiell, has issued a strong call to action at COP29 in Baku. Stiell emphasized the crucial importance of setting an ambitious new climate finance target for the well-being of all nations, including the wealthiest and most powerful.

Securing a Sustainable Future for All

Confronting the Rampant Climate Crisis

Stiell made it clear that climate finance is not a matter of charity, but a necessity for addressing the far-reaching impacts of runaway climate change. He stressed that the UNFCCC process is the only platform where the global community can collectively address this pressing issue and hold each other accountable for taking action. Without this process, Stiell warned that humanity would be headed towards a catastrophic five degrees of global warming.

The Cascading Consequences of Inaction

Stiell provided stark examples of the devastating consequences that could unfold if at least two-thirds of the world's countries cannot afford to rapidly reduce their emissions. He cautioned that the entire world economy could collapse if countries are unable to strengthen their supply chains in the face of rising costs linked to climate shocks, such as the dramatic impact on shipping volumes due to falling water levels in the Panama Canal.

A Call for Robust Financial Reforms

Stiell emphasized the need for robust reforms to the global financial system, which he believes is essential for nations to effectively address the impacts of climate change. He challenged the delegates at COP29 to stand and deliver, calling on every nation to demonstrate that global cooperation is rising to this moment rather than faltering.

Inspiring Resilience in the Face of Adversity

Drawing from his personal experience, Stiell shared the story of his home island of Carriacou in Grenada, which was nearly flattened by Hurricane Beryl. He was inspired by the resilience of his neighbors, like an 85-year-old woman named Florence, who become victims of climate change but continue to get up and rebuild their lives.

The Urgency of a New Climate Finance Deal

Stiell posed a series of questions to the delegates, challenging them to consider the consequences of inaction. He made it clear that a new climate finance deal is crucial to prevent further rises in grocery and energy bills, economic uncompetitiveness, and global instability that could cost precious lives.

The Historic Importance of COP29

Stiell emphasized the historic importance of COP29, stating that the delegates cannot leave Baku without a substantial outcome. He called on every nation to rise to the occasion and demonstrate that global cooperation is the path forward in addressing the climate crisis.